When you're starting a new business, insurance is often far from the first thing on your mind. But in truth, that's the time when you need it the most. When you're a new or a small business -- or both -- you often don't have the assets needed to protect yourself if something goes wrong with your products or your employees' conduct.
Without insurance, even a small incident can be a disaster that threatens your business and any chance that you might have of financial success. If you don't have a commercial property insurance policy in Alpharetta, GA, you're essentially a tightrope walker without a safety net. Here are a few policies you should consider to ease that burden!
General Liability Insurance
Unless you're the only person working for your business and your product or service is entirely digital, you absolutely have to have liability insurance. You need to have liability insurance in case one of your employees causes an accident on someone else's property, or if you release a faulty product that causes injury to a customer.
Even if your product is entirely digital, liability insurance can still be vital for your business. Suppose you send out a file and a hacker gets involved and corrupts it, installing a virus on your client's computer. You could be held liable for a faulty product and end up having to pay thousands for a new computer system for your client. It's better to be safe than sorry.
If you've got an office, you should definitely consider purchasing property insurance. Property insurance is important in case you have a fair amount of supplies inside your building, because anything can happen. If someone breaks into your office or a fire gets started, you could lose a substantial amount of supplies, which can cripple your business. If you have a product-based business, it's vital for you to get property insurance regardless of where you base your business, because losing inventory without insurance is simply devastating.
This one is critical if you plan to hire any employees beyond yourself and your spouse. The last thing you want is an accident on the job, but it's substantially worse if an accident on the job happens without having proper insurance to cover a worker's compensation claim, especially if your place of business wasn't following proper safety procedures.
In the early days of your business, you might be forced to operate in a substandard space that doesn't have all the equipment you'd like. In those situations, accidents are more likely to happen, and you can't trust that your workers are going to follow all of the safety regulations in place. You need to protect yourself from all that can go wrong.
When you're running a business, you're probably thinking about expanding, building your brand and establishing wealth. All are worthwhile endeavors, but without a commercial property insurance policy in Alpharetta, GA, you'll find yourself constantly worried about what could go wrong and missing opportunities to make things go right. By getting a policy you can afford, you'll set yourself up to take sensible risks and make your business thrive!